Metrobank vs Security Bank

Metrobank vs Security Bank Housing Loan: Quick Comparison

Choosing between Metrobank and Security Bank for your housing loan or refinancing comes down to three things: interest rates, eligibility requirements, and how smoothly the process runs. Below is a side-by-side snapshot, followed by a deeper dive into each area.

*Metrobank rates and requirements are approximate, based on publicly available information, and subject to change without notice. Always verify directly with Metrobank. Security Bank figures are verified partner data current as of 2026.

Interest Rates in Detail

Security Bank Rates (Verified)

As a Nook partner bank, Security Bank's rates are verified and transparently published:

• 1-Year Fixed: 6.99% p.a.
• 5-Year Fixed: 6.75% p.a.
• Home Equity Loan: 7.50% p.a.

These rates apply to refinancing, purchase, renovation, home equity, and more. Because Security Bank is a Nook partner, you can apply directly through Nook at no cost — Nook handles the paperwork, coordinates with the bank, and advocates on your behalf.

Metrobank Rates (Approximate)

Metrobank is one of the Philippines' largest universal banks and offers competitive housing loan products. However, Metrobank is not a Nook partner bank, so its rates cannot be independently verified through Nook's platform. Based on publicly available information, Metrobank's indicative rates typically range from approximately 7.50% to 9.00% p.a. depending on the fixed-rate period and the borrower's profile. These figures are approximate and subject to change — always confirm with Metrobank directly before making any decisions.

What the Rate Difference Actually Means

To illustrate the real-world impact, consider a borrower with an outstanding loan balance of 3,000,000 on a 20-year remaining term:

• At 8.00% p.a. (approximate Metrobank mid-range): Monthly amortization ≈ 25,093
• At 6.75% p.a. (Security Bank 5-year fixed via Nook): Monthly amortization ≈ 22,781
• Monthly savings: ≈ 2,312
• Annual savings: ≈ 27,744
• Savings over 5-year fixed period: ≈ 138,720

That is a meaningful difference — and it is why refinancing with the right bank matters. If you are currently paying above 7.50% with any lender, it is worth finding out if Security Bank's rates through Nook could save you money. You can also explore a more detailed breakdown of Metrobank vs Security Bank home loan rates on our dedicated comparison page.

Eligibility Requirements

Security Bank (Verified)

Security Bank accepts a wide range of borrower profiles, which makes it accessible to more Filipino homeowners than many competing banks:

• Employment types accepted: Private sector employees, government employees, BPO workers, OFWs and seafarers, self-employed individuals, licensed professionals, and freelancers
• Minimum monthly income: P50,000
• Maximum debt-to-income ratio: 40%
• Eligible loan purposes: Ready for Occupancy (RFO), Pre-Selling, Refinancing, Renovation, New Construction, Home Equity, Foreclosed properties, and Reselling

The breadth of accepted employment types is a standout feature — particularly for OFWs, BPO employees, and freelancers who may find stricter eligibility at other banks.

Metrobank (Approximate)

Metrobank generally accepts private sector and government employees, as well as self-employed borrowers. Its minimum income requirements and DTI thresholds are broadly similar to the industry standard, but exact current figures should be verified directly with Metrobank. One common feedback from borrowers is that Metrobank's documentation requirements can be extensive, which may extend processing time compared to more streamlined digital-forward lenders.

Loan Purposes and Flexibility

Security Bank covers one of the broadest ranges of loan purposes available from a Philippine commercial bank. Whether you are buying a resale property, refinancing an existing loan, funding a renovation, or unlocking equity from your home, Security Bank has a product for it. This flexibility is particularly useful if your situation does not fit neatly into a standard purchase loan.

Metrobank also offers purchase and refinancing products, but the range of covered purposes and the nuances of its product lineup vary and should be confirmed with a Metrobank representative or mortgage specialist.

For borrowers comparing multiple banks at once, our BDO vs Metrobank vs Security Bank triple comparison is a helpful resource to see how all three stack up across rates, requirements, and loan flexibility.

Application Process and Timeline

Applying Through Nook (Security Bank)

When you apply for a Security Bank housing loan or refinance through Nook, the process is designed to be as simple as possible:

1. Submit your details online — Nook's digital intake form takes about 10 minutes
2. Nook assesses your profile — your dedicated mortgage advisor reviews your situation and confirms your eligibility
3. Document submission — Nook guides you through exactly what is needed, reducing back-and-forth
4. Bank processing — Security Bank's typical approval timeline is approximately 23 days
5. Offer and acceptance — you review the loan offer with Nook's support before signing

Nook's service is 100% free to borrowers. Nook is compensated by the bank upon successful loan release — there are no hidden fees or markups on your rate.

Applying Directly to Metrobank

Applying directly to Metrobank means navigating the process without a dedicated advisor. You will need to source the forms, compile documentation, and follow up on your application status yourself. Processing times vary, but borrowers commonly report timelines of three to five weeks or longer depending on loan complexity and branch workload.

Who Should Choose Each Bank?

Consider Security Bank (via Nook) if you:

• Want the lowest verified rate available through a trusted broker
• Are an OFW, BPO worker, freelancer, or self-employed borrower who needs flexible eligibility
• Are refinancing and want a free, end-to-end guided experience
• Value transparency and want rates confirmed upfront before applying
• Are dealing with a foreclosed property, home equity need, or pre-selling purchase

Consider Metrobank if you:

• Already have an established banking relationship with Metrobank and prefer to consolidate
• Are comfortable navigating the application process independently
• Have already received a formal loan offer from Metrobank and are comparing it against alternatives

Note: Interest rates from all banks are subject to change. This comparison is based on information available as of 2026. Always verify current rates and terms directly with any lender before making a financial decision.